AVP Operational Risk Management - Employee Benefits
About The Position
The Assistant Vice President for Business Risk in Employee Benefits will play a pivotal role in enhancing the risk management framework within the organization. Reporting directly to the Senior Vice President of Risk overseeing the Employee Benefits business, the AVP will be responsible for proactive collaboration with the business unit to identify, assess, and mitigate internal and external business risks, ensuring compliance with regulatory standards, and fostering a risk-aware culture. The AVP provides oversight and challenge to the first line of defense to ensure risks are effectively managed. This leadership position requires a strategic thinker with strong analytical capabilities, deep industry knowledge, and the ability to communicate effectively across various stakeholders. This role will manage a small team of direct reports.
Requirements
- Bachelor’s degree in Finance, Business Administration, Risk Management, or a related field.
- Minimum of 5 years of relevant experience in risk management, compliance, or operational risk within the financial services industry, preferably in employee benefits.
- Proven experience in risk assessment methodologies, including quantitative and qualitative risk analysis.
- Excellent analytical skills with a strong attention to detail and the ability to synthesize complex information.
- Ability to travel.
Nice To Haves
- Strategic Mindset: Ability to align risk management initiatives with overall business goals and effectively anticipate future risk scenarios.
- Strong Leadership Skills: Demonstrated ability to influence and lead cross-functional teams, while fostering collaboration and engagement.
- Effective Communicator: Exceptional verbal and written communication skills, with the ability to deliver complex information clearly and concisely to diverse audiences.
- Proactive and Analytical: A critical thinker who approaches challenges with creativity and a strong problem-solving orientation.
- Adaptable: Comfortable working in a dynamic environment with a willingness to adjust to changing priorities and regulatory landscapes.
- Ethical Judgment: Strong commitment to integrity and ethical standards, with a focus on compliance and corporate governance.
Responsibilities
- Develop and implement a comprehensive risk management strategy for the Employee Benefits business.
- Provide risk advice, monitor and assess business risks associated with sales, product offerings, operational processes, finance and market conditions.
- Build and maintain relationships at all levels of the organization to understand current initiatives, risks and roadblocks to provide timely and effective risk support.
- Conduct regular risk assessments, stress testing, and scenario analysis to evaluate potential vulnerabilities.
- Ensure adherence to regulatory requirements and internal policies, driving compliance through effective risk governance.
- Collaborate with cross-functional teams, such as compliance, legal, privacy and internal audit, to identify and support the business in mitigating risk to an acceptable level.
- Provide training and guidance to teams on risk management best practices and foster a culture of risk awareness.
- Lead cross-functional projects to improve risk reporting, risk metrics, and overall risk management capabilities.
- Prepare reports and presentations for the Risk leaders and committees and other key stakeholders, detailing risk profiles, and mitigation strategy.
- Create a high-performing, cohesive team by having regular 1:1’s, setting clear goals, providing constructive feedback, coaching, and fostering a continuous learning environment that aligns with career goals and company objectives.
- Foster a culture of excellence by prioritizing top-tier hiring, conflict resolution, and performance monitoring.
Benefits
- Health, dental, vision and life insurance plans
- 401(k) Savings plan – with generous company matching contributions (up to 6%)
- Voya Retirement Plan – employer paid cash balance retirement plan (4%)
- Tuition reimbursement up to $5,250/year
- Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
- Paid volunteer time — 40 hours per calendar year
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What This Job Offers
Job Type
Full-time
Career Level
Manager
